Yield optimizers automate complex DeFi strategies—compounding rewards, moving between protocols, and maximizing returns. But which optimizer is right for your assets?
This guide compares the major yield optimizers across what matters: returns, fees, security, and supported strategies.
Manual yield farming requires:
- Claiming rewards frequently
- Swapping reward tokens
- Re-depositing to compound
- Monitoring for better opportunities
- Gas costs for each transaction
Yield optimizers automate all this, typically at a fraction of what you'd pay doing it yourself.
- Users deposit assets into vaults
- Vault deploys assets to yield strategies
- Protocol harvests rewards automatically
- Rewards are sold and compounded
- Fees taken from harvested yield
The net effect: higher APY than manual farming, lower gas costs, less time required.
The original yield optimizer. Yearn pioneered the vault concept and remains the most battle-tested protocol.
- Chains: Ethereum, Arbitrum, Optimism, Polygon, Fantom
TVL: $400M+ (varies with market conditions)
yVaults: - Automated yield strategies
- Professional strategy development
- Insurance options available
Vault Strategies: - Lending optimization (Aave, Compound)
- Curve LP staking
- Convex integration
- Custom developed strategies
- Management fee: 0% (removed in v3)
- Performance fee: 10% of yield
- No deposit/withdrawal fees
- Track record: Operating since 2020
- Strategy quality: Professional strategists
- Audits: Extensively audited
- Insurance: Cover available through Nexus Mutual
- Lower APYs: Conservative strategies
- Ethereum-centric: Best products on mainnet
- Higher gas: Complex strategies cost more
Conservative users prioritizing security over maximum yield. Large deposits on Ethereum mainnet.
Multi-chain yield optimizer with the widest protocol coverage. Beefy focuses on auto-compounding across dozens of chains.
Chains: 20+ including BNB Chain, Polygon, Arbitrum, Avalanche, Fantom, Optimism
TVL: $300M+ across all chains
Auto-Compounding Vaults: - Simple deposit, automatic compounding
- Wide strategy coverage
- Cross-chain options
Strategy Types: - LP token staking
- Single asset lending
- Leveraged farming
- Stable pools
- Performance fee: 4.5% of yield
- Treasury allocation: 0.5%
- Strategist fee: 0.5%
- Total: 5.5% of harvested yield
- No deposit/withdrawal fees
- Multi-chain: Widest chain coverage
- Strategy variety: 500+ active vaults
- Lower fees:
5.5% vs 10%+ competitors
- Quick listings: New opportunities fast
- Strategy quality varies: Not all equal
- Less audited: Breadth comes with risk
- Complexity: Many options can overwhelm
Multi-chain farmers wanting auto-compounding across various protocols and chains.
Specialized for Curve and now Frax ecosystems. Convex boosts CRV and CVX rewards beyond what individuals can achieve.
- Chains: Ethereum, Arbitrum
TVL: $2B+ (primarily Curve-related)
Boosted Yields: - Aggregates veCRV voting power
- Passes boost to all depositors
- Higher CRV rewards than direct staking
cvxCRV: - Liquid staking for CRV
Frax Integration: - Similar model for FXS
- Performance fee: 16% of CRV earned
- Platform fee: 1% to cvxCRV stakers
- No deposit/withdrawal fees
- Best Curve yields: Unmatched boost
- Deep liquidity: Easy entry/exit
- Composability: cvxCRV widely integrated
- Governance power: Significant Curve influence
- Single ecosystem: Curve/Frax only
- Higher fees: 17% total take
- Complexity: Understanding boost mechanism
- CVX dependency: Token price affects returns
Curve LP stakers and CRV holders wanting maximum Curve ecosystem yields.
For a Curve 3pool position:
| Optimizer |
Base APY |
Boost |
Net APY |
Fees |
| Direct Curve |
2% |
1x |
2% |
0% |
| Yearn |
2% |
2x |
3.6% |
10% |
| Beefy |
2% |
2x |
3.8% |
5.5% |
| Convex |
2% |
2.5x |
4.15% |
17% |
*Hypothetical example—actual rates vary
| Protocol |
Audits |
Insurance |
Track Record |
Bug Bounty |
| Yearn |
10+ |
Available |
4+ years |
$200K+ |
| Beefy |
5+ |
Limited |
3+ years |
$100K |
| Convex |
5+ |
Available |
3+ years |
$250K |
| Chain |
Yearn |
Beefy |
Convex |
| Ethereum |
✓ |
✓ |
✓ |
| Arbitrum |
✓ |
✓ |
✓ |
| Polygon |
✓ |
✓ |
✗ |
| BNB Chain |
✗ |
✓ |
✗ |
| Avalanche |
✗ |
✓ |
✗ |
| Optimism |
✓ |
✓ |
✗ |
Choose Yearn if: - Security is paramount
- Depositing $100K+
- Want insurance options
- Prefer conservative strategies
Choose Beefy if: - Farming on non-Ethereum chains
- Want widest strategy selection
- Fee-conscious
- Comfortable evaluating strategies
Choose Convex if: - Focused on Curve ecosystem
- Have CRV to stake
- Want maximum Curve yields
- Understand boost mechanics
| Asset Type |
Best Option |
| Stablecoins |
Convex (Curve 3pool) |
| ETH |
Yearn or Beefy |
| BTC |
Beefy (more options) |
| LP tokens |
Beefy (coverage) |
| CRV |
Convex (cvxCRV) |
| Risk Level |
Recommendation |
| Very Low |
Yearn stable vaults |
| Low |
Convex stable pools |
| Medium |
Beefy blue-chip farms |
| Higher |
Beefy newer strategies |
All optimizers add contract risk on top of underlying protocols:
- Yearn: Multiple audited contracts
- Beefy: Standardized vault template
- Convex: Complex integration with Curve
Strategies can lose money:
- Impermanent loss on LP positions
- Protocol exploits
- Oracle failures
- Liquidations on leveraged strategies
Optimizers depend on underlying protocols:
- Curve vulnerability affects Convex
- Underlying farm exploits affect all
- Diversify across optimizers
- Check strategy age and TVL
- Review underlying protocol security
- Use insurance when available
- Start small with new strategies
What do you have to deposit?
- Stablecoins → Consider Convex or Yearn
- ETH/BTC → Compare options on preferred chain
- LP tokens → Check if Beefy covers the pair
For your specific asset:
- Check APY on each platform
- Calculate net APY after fees
- Review strategy details
- Assess underlying protocol risk
- Deposit test amount first
- Monitor for a week
- Verify compounding works
- Check actual vs displayed APY
- Increase position over time
- Diversify across strategies
- Rebalance quarterly
- Stay updated on protocol changes
Are yield optimizers safe?
They add smart contract risk but reduce operational risk. Choose audited protocols with track records.
Do I need to claim rewards?
No, that's the point. Optimizers auto-compound for you.
What's the minimum deposit?
Technically any amount, but gas costs make small deposits inefficient on Ethereum. L2s and alt-chains work for smaller amounts.
Can I lose money?
Yes, through smart contract exploits, impermanent loss, or underlying protocol failures. Yield is not guaranteed.
Which has the highest APY?
Varies by strategy and market conditions. Check current rates before depositing. Higher APY often means higher risk.
